The ED initiated an investigation under PMLA based on a chargesheet filed by the Central Bureau of Investigation that RPCIL had got “undue benefit” of 914 acres of land by reducing the green belt area from 250 metres to 50 metres in Jawaharlal Nehru Pharma City (JNPC) near Visakhapatnam.

The ED stated that its investigations revealed that in lieu of the undue gain, Ramky group had invested Rs 10 crore in the share capital of Jagati Publications Private Limited, the publisher of Saakshi Telugu daily. YS Bharati Reddy, wife of YSR Congress president YS Jagan Mohan Reddy, is the chairperson of Jagati Publications.

Out of 914 acres, RPCIL had converted 627 acres into industrial plots and sold/leased out plots in 468 plots to different pharma companies. About Rs 101 crore worth of properties have been already sold. Besides, Rs 115 crore worth of 16 plots in 159 acres , which were being sold , were also been identified as proceeds of crime, ED joint director, KSVV Prasad, stated in press release on Friday.

The properties attached include 16 plots in JNPC valued at Rs 115 crore, two more plots at the same place worth Rs 22.78 crore, 33.43 acres of non-SEZ area and lands in Thanam, Lemarthi, Thadi and E Bonangi villages.